LSE lobbying for London listing of SoftBank's Arm - Bloomberg News

The London Stock Exchange Group offices are seen in the City of London, Britain
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville

July 21 (Reuters) - The London Stock Exchange (LSE) Group Plc (LSEG.L) is lobbying for a UK listing of SoftBank-owned chip technology firm Arm Ltd, Bloomberg News reported on Thursday, citing the bourse's Chief Executive Officer Julia Hoggett.

SoftBank (9984.T) has put on hold plans for a London initial public offering (IPO) for Arm - which supplies intellectual property in chips that power most of the world's smartphones - because of the political turmoil in the UK government, the Financial Times reported on Monday. read more

Hoggett said that there is a "very compelling" case for Arm to have a dual primary listing in the UK, according to the Bloomberg report.

SoftBank's billionaire founder, Masayoshi Son, had told shareholders in June that he was in favor of a U.S. listing as most of British-based chip designer's clients are based there. read more

SoftBank acquired Cambridge, England-based Arm for $32 billion in 2016.

LSE and SoftBank did not immediately respond to Reuters requests for comment.

Thomson Reuters (TRI.TO), the parent company of Reuters News, holds a minority stake in the London Stock Exchange Group following the exchange's deal with Refinitiv.

Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich and Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.

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